ANA and Japan Post Join Forces in New International Air Cargo Strategy; New Cargo Airline to be Jointly Created.

Tokyo, Japan, Oct 20, 2005 - (JCN Newswire) - ANA President and CEO, Mineo Yamamoto, and Japan Post President, Masaharu Ikuta, today signed a strategic agreement that will see both companies cooperate in the field of international air cargo services from April 1, 2006. The new venture will include the creation of a new cargo airline and the joint development of international express courier services particularly to the growing Asian market.

Cooperation of this kind has become possible thanks to the privatisation of Japan Post, which was approved on October 14 this year and will be completed in 2007, the provisions of which allow it to invest in the international logistics arena from April 2006. It is also in April 2006 that ANA and Japan Post will jointly set up the new cargo airline, owned two thirds by ANA, one third by Japan Post. Operations at the new carrier are planned to commence within the first half of the fiscal year; other details have yet to be confirmed.

Both companies will also cooperate in the field of international express courier services, with ANA coordinating flight schedules and priority space for products developed by Japan Post.

"To have been chosen as the first joint venture partner of Japan Post is an enormous honour for ANA, and we are delighted, and proud, to have sealed this agreement today," said Mr Yamamoto. "Located on the edge of Asia, we are positioned to take advantage of the dynamism of the region by combining our joint strengths to provide high quality, highly competitive, air cargo services that our customers can trust," he continued.

"This is a historical first step for Japan Post in a new business field," added Mr Ikuta. "Supported by ANA with its wealth of experience in air transportation, we can make our first move into the international express courier business, and springboard ourselves on the path to becoming a global provider of integrated logistics services. We have considerable hopes for excellent results from the synergy of both companies in this agreement," he said.

ANA is intending to significantly increase its penetration of the cargo market with the delivery of new freighter aircraft at the end of this year and the beginning of 2006. The new venture with Japan Post will bring its stated to aim to make air cargo one of its three core businesses, alongside domestic and international passenger transportation, closer to reality.

"This is just the start," Mr Yamamoto. "Moving forward we will explore new ways in which we can strengthen the cooperation between Japan Post and ANA."

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